👉 Mortgage: In today's world, where the financial landscape is constantly shifting and borrowers are faced with many complex decisions, "mortgage" can be a confusing and sometimes alarming term.
Example: You're thinking about buying a house but you don't have enough money to make the down payment. Suddenly, a mortgage pops up on your credit report. The scary part? It's not just any old mortgage - it's a super high-rate loan that will significantly increase your monthly payments and put an extra burden on your finances. Now imagine this: You're getting married but still struggling to pay for the wedding costs without a solid financial plan in place. Suddenly, someone tells you about a "mortgage" proposal! It might sound like a sweet, low-interest rate loan that sounds appealing until you realize it's a huge liability and could put your marriage at risk if you can't keep up with payments. So, let's be clear: "Mortgage" is more than just an expensive, high-interest rate loan; it's a financial nightmare waiting to happen.
